Xponance Inc. Raises Holdings in nVent Electric plc (NYSE:NVT)

Xponance Inc. lifted its stake in nVent Electric plc (NYSE:NVT) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,784 shares of the company’s stock after buying an additional 1,758 shares during the quarter. Xponance Inc.’s holdings in nVent Electric were worth $1,348,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Tocqueville Asset Management L.P. boosted its stake in shares of nVent Electric by 52.6% in the fourth quarter. Tocqueville Asset Management L.P. now owns 113,160 shares of the company’s stock worth $7,713,000 after buying an additional 38,990 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of nVent Electric by 8.8% in the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock worth $176,630,000 after buying an additional 210,690 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of nVent Electric by 198.1% in the fourth quarter. Corient Private Wealth LLC now owns 71,873 shares of the company’s stock worth $4,899,000 after buying an additional 47,761 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of nVent Electric by 115.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 32,450 shares of the company’s stock worth $2,212,000 after buying an additional 17,362 shares during the last quarter. Finally, Avalon Trust Co purchased a new stake in shares of nVent Electric in the fourth quarter worth about $9,124,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

NYSE NVT opened at $57.11 on Friday. The company has a market cap of $9.42 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The stock’s 50 day simple moving average is $63.63 and its 200-day simple moving average is $69.01. nVent Electric plc has a 1-year low of $51.99 and a 1-year high of $86.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28.

nVent Electric (NYSE:NVT) last released its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, equities research analysts anticipate that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. nVent Electric’s dividend payout ratio is presently 40.82%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVT. Royal Bank of Canada increased their price target on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Monday, March 17th. Barclays lowered their price target on nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Finally, Citigroup lowered their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, nVent Electric presently has a consensus rating of “Buy” and a consensus target price of $83.33.

nVent Electric Company Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.